Query regarding limit of cash lending with interest or inter

SS BOORA (Querist) 04 April 2017 This query is : Resolved
Plz clarify which maximum cash amount can we lend to a friend with interest or without interest.Can this limit be used next day with another cash transaction. Is any lending license mandatory for this type of transaction in friends circle?

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adv. rajeev ( rajoo ) (Expert) 04 April 2017
If you are not a regd., money lender you cannot lend a money to your friend on interest, it is an offence and it amounts illegal money lending. You can give hand loan to your friend, but you cannot collect interest officially.

Rajendra K Goyal (Expert) 04 April 2017
Academic query.

State material facts of the problem if any.

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Looks like examination question.

Ms.Usha Kapoor (Expert) 05 April 2017
Agree with Advocate Rajeev Raju.

Kumar Doab (Expert) 05 April 2017
Agreed with Mr. Rajeev (Rajoo), Mr. Rajendra K Goyal.

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